SNS shareholder case delayed by finance minister
Finance minister Jeroen Dijsselbloem is delaying a decision in the case for not compensating SNS shareholders, the Telegraaf reports on Monday.
Dijsselbloem has sent the case to the court of cassation, causing a delay to the finalisation of the case before the supreme court.
The case dates back to February when SNS Reaal was nationalised. Dijsselbloem said at the time the shares were worthless because the bank would have gone bankrupt if the state had not intervened.
In July, the company court said the zero valuation may not have been correct and had not been properly substantiated. The court said it would appoint investigators to assess what level of compensation bond and shareholders should be given.
Now Dijsselbloem has involved the cassation court, the company court must delay its appointment of investigators until the cassation court gives its verdict.
According to Dutch investors’ association, which is representing SNS shareholders, this could take at least six months.
The cassation court does not re-examine the facts of a case, but verifies the interpretation of law.
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